Market Crash vs. Normalizing / Seasonal Slowdown
October 07, 2022
As we enter the fourth quarter of 2022, we must be reminded that it's... the fourth quarter. In a "normal" market, this is typically the slowest time of the year. In the last couple of years, most buyers paid no attention to the holidays and weather. High demand, low inventory, and historic low-interest rates took a December ...
Don’t Wait for Mortgage Rates to Fall Before Buying a Home
October 07, 2022
Home prices are starting to fall, but still aren’t far from their peak. Mortgage rates are climbing, from less than 3% last summer to threatening 7% today.Those numbers might make someone shopping for their first home want to hunker down and wait out the market. Maybe home prices will take an impactful dip, and bring along ...
Mortgage Rates
October 07, 2022
Mortgage rates remained below 7% this week despite the jump in the 10-year Treasury yield. According to Freddie Mac, the 30-year fixed mortgage rate rose to 6.94% from 6.92% the previous week. However, rates are near the 7% benchmark that could be considered the new normal for mortgage rates.However, 7% rates were normal in the mid-to-late ...
HOME CLEAN UP TIPS FOR FALL
October 06, 2022
It is that time of year again in Michigan! Here are some helpful tips to get your home ready this fall... -Clean gutters and downspouts-Bring in hoses and cover or insulate outside spigots-Finish up any exterior painting or staining before the temps are too low-Finish any outside concrete projects before the temps are too low-Tuck point any ...
How is the fall market?
October 05, 2022
How is the fall market? Interesting question. As ever, the answer is...it depends. for sure homes must be priced correctly when they go on the market. this isnt the time for "testing" the market with a higher than normal price. The home should be in the best possible condition when being shown....
Fannie Mae launches rent payment reporting pilot program
September 28, 2022
Effetive Sept. 27, eligible multifamily property owners can share rent payment data through a vendor network to TransUnion, Equifax, and Experian in the renter's credit profile. "Around 20% of the U.S. population has little to no established credit history. Per Michele Evans, Executive Vice President and Head of Multifamily at Fannie Mae...
What if there are private inspection problems?
September 26, 2022
What happens if the inspection reveals problems with the home?There’s no such thing as a perfect house, so it’s inevitable the report will uncover things that need to be addressed. Even brand-new homes have a few items requiring repairs, often referred to as a “punch list,” that’s identified in the final walkthrough. If ...
5 First Time Home Buyer Mistakes
September 26, 2022
5 Common mistakes buyers make when buying their First HomeBuyer a home for the first time can be overwhelming. With so many steps involved, it’s easy for first-time home buyers to make some mistakes. Not working with a qualified Real Estate Professional:Real Estate agents are experts in handling the home buying process. They provide expert knowledge ...
Why This Fall is a Great Time to Buy a Home
September 23, 2022
If you have been thinking of buying a house this year but have been intimidated by what you have heard in the news and online about the competition and prices, you may finally breathe a sigh of relief and start shopping for your dream home. Experts in the industry have been weighing in about the fall real estate ...
How Personal Touch Still Matters In Buying A Real Estate Property
September 17, 2022
https://medium.com/@LeaxFoundation/how-personal-touch-still-matters-in-buying-a-real-estate-property-d5bb3625b391From online buying to protect, technology has changed the way we buy and sell properties. But even in an increasingly digital age, buyers still value personal connection when it comes to real estate transactions. Millennials — who make up the largest share of homebuyers in the world — were the most likely to use both the internet and ...
Flood Clean Up Tips
September 16, 2022
When natural disasters hit, the effects are typically much more significant than you might first suspect. Sure, there is the immediate impact and potentially some damage resulting directly from that, but in most cases, there is also a significant amount of clean up and recovery that’s required afterward. This is especially true in instances of flooding where it ...
Pressure Washing Your Home
September 15, 2022
Pressure WashingAfter several seasons of snow, pollen and fallen leaves, professional pressure washing can remove all that dirt and debris from your home. Your home will look good as new from the outside after a thorough washing of the siding, deck, fences and driveway. Pressure washing also helps to ensure a smoother finish when you’re planning an ...
Building permit necessary?
September 15, 2022
We have had this question multiple times. Are building permits necessary? Response directly from michigan.gov"Before construction of a building or structure, an owner, or the owner's builder, architect, engineer, or agent, shall submit an application in writing to the appropriate enforcing agency for a building permit. A permit is also required when the use ...
U.S. Foreclosure Starts Reach Pre-Pandemic Levels Nationwide
September 15, 2022
llinois, Delaware and South Carolina had the Highest Foreclosure Rates; Completed Foreclosures Increase 28 Percent from Last Month...RVINE, Calif. — September 8, 2022 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its August 2022 U.S. Foreclosure Market Report, which shows there were a total of 34,501 U....
Case Study: Personal Property Assessment and Cleanout
September 15, 2022
Client: Family EstateThe ChallengeThe rich history of this family and house started its story in 1955 when a young doctor and nurse got married and purchased a house on the Northside of Chicago. Over the next 65 years the home accumulated with 3 generations of mementos, filling the basement and cluttering the entire house. While surely there ...
Investor Series – Projecting cash flow on a Multi Family Property
September 15, 2022
This is one of many articles we will be writing regarding investing in Real Estate. Today we’ll be looking at Multi Family properties and now to set up a projected cash flow.Multi family properties are named after the number of residential units they contain. For example, a property that contains 4 residential apartments is ...
Getting your home ready ahead of the Fall season!
September 14, 2022
The weather is getting cooler and the leaves are falling, which means business is changing for some and home upkeep is changing for all. “This time of year it’s yard cleanup and getting ready for the insulating of windows,” said Bob Parent Assistant Sales Manager at Rocky’s Ace Hardware in Agawam.As the ...
Chicago Housing Market: Prices | Trends | Forecasts 2022
September 14, 2022
September 1, 2022 By Marco Santarelli Illinois Housing Market UpdateWe'll discuss the latest trends and projections for the Chicago housing market. Prices are expected to continue to increase through the rest of the year while the number of sales is expected to decrease. As demand remained robust and mortgage rates climbed, Illinois houses sold faster in May 2022 ...
Are there fewer Short Sales and Foreclosures in Mchenry County, IL ?
September 14, 2022
The above statistics were compiled based on all detached single family homes listed for sale in Mchenry, Illinois between September 2021 and August 2022. Of the 218 homes that were on the market in Mchenry during August 2022 71.6% never sold. 64.2% are still listed for sale and 7.3% were taken off the market by ...
Tips for staying on track while buying a house
September 14, 2022
Buying a home is one of the biggest financial decisions you will ever make. It is important to understand the variables that can improve, or even interrupt, the transaction. We’ve created a list of Do’s and Don’ts to follow to keep you on track during the process!Do’sKeep Your Job – Mortgage lenders usually look ...
What Is a Good Credit Score to Buy a House?
September 12, 2022
By Daniel BortzAug 27, 2022EnvelopeFacebookTwitterLinkedinPinterestIf you’re hoping to buy a home with a conventional mortgage, one number you’ll want to get to know well is your credit score. Also called a credit rating or FICO score (named after the company that created it, the Fair Isaac Corporation), this three-digit number is a numerical representation of your credit ...
Has the red-hot housing market cooled off? By: McKoy Scribner WLNS-6 Sept. 5, 2022
September 12, 2022
LANSING, Mich. (WLNS) — Soaring prices during the pandemic left some home buyers no other choice but to pay well over asking prices.But one expert is saying that relief is on the way.Broker and Owner for Exit Realty at Home, Heather Driscoll, got her start in real estate about 13 years ago, putting her degrees in interior ...
NATIONWIDE FORECLOSURE HITS PRE-PANDEMIC LEVELS
September 12, 2022
According to DSNews.com in the month of August 2022 there were a total of 34,501 properties with foreclosure filings, default notices, scheduled auctions or bank repossessions. This is up 14% from the month prior and is up a staggering 118% as compared to the same period a year ago. In the month of August there was an ...
13 tax Breaks for Homeowners
September 09, 2022
https://www.kiplinger.com/taxes/income-tax/603276/tax-breaks-for-homeowners-and-home-buyers ...
September housing market
September 09, 2022
Steps to Saving for a Down Payment on a HouseI’m a real estate agent in the Washington DC area where the median home price is about $500,000. The area is also home to a large number of millennials. Unfortunately, most millennials have a hard time purchasing homes in the area because of the high prices....
